Bitcoin price fell by more than $1,000 in less than a few minutes as the US CPI figures for January were released.
The Consumer Price Index (CPI) is used to measure the average change over time in the prices paid by urban consumers for a basket of specific consumer goods and services. Many also consider this to be a approximation of the current inflation rate.
For January, the urban consumer CPI rose to 7.5% from 7% in December – non-seasonally adjusted.
February 2022 CPI information is expected to be released on March 10th.
With this in mind, many polls were expecting the CPI to rise, and it turned out to be a sell the truth event for the price of BTC, which at the time of writing this article – a few minutes later – was around 1,400 $ has lost numbers will be published.
Source: TradingView
At the time of writing, bitcoin price is trading at $43,743, down 1.7% in one hour and about 0.5% in 24 hours, but still up 18.8% on the week is.
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